lotteryForget your personal/religious feelings when it comes to gambling, or even your view of state sponsored gambling (i.e. the lottery) when it comes to a public policy or as it relates to taxes, it is fun and cheap to play for the slight chance of a win a ton of cold cash.

We all know that the odds of winning the lottery are terrible, but every time the New York Mega Millions hits over 9 digits (over $100,000,000) I have to buy a couple tickets.  I know it is a stupid move, I am well aware that I am not going to win, but there is some human instinct that says, “Hey, you never know…” which leads me to my question:

Is it ok to Dream about Winning the Lottery?

Really, the question should be is it ok to “dream” about any windfall of dollars?  I think the answer to this question is, YES…kind of.  I think the important thing when hoping for a windfall is that you are not planning for it.  You shouldn’t plan for your parents’ death for an inheritance (ignoring the morbid part of it for a second), you shouldn’t plan for a bonus, and most of all you shouldn’t plan for a lottery winning.

My Journey to Millions Dream if he Won the Lottery

First off, I think the sad thing is I don’t even dream about winning the big one! I dream about winning the $250K one, the little guy compared to nine digits.  The first thing I would do (after freaking out with The Wife for a bit) would be to get rid of more debt.  I think it would be great to get rid of my car loan, a good chunk of my student loans, and then I would start looking into muni bonds.  I’d love to have a muni bond portfolio that basically covered my expenses!  A $5,000,000 muni bond portfolio yielding 5% and boom = $250,000 NET income.  Only after all that was done, whereby I insured my family’s well being would I start worrying about others in my life.   Help our siblings, help our parents, maybe a little charity stuff!

Do you Dream about the Windfall? Do you play the lottery?